iCapital announced it has completed the acquisition of SIMON Markets. The transaction meaningfully broadens iCapital’s investment menu, technical capabilities, education offerings and support services for advisors and their clients.
Through this acquisition, iCapital will create a single source of alternative investment strategies from nearly 300 asset managers and product manufacturers, adding SIMON’s structured investments, annuities, digital assets and risk-managed products offerings to iCapital’s extensive menu of private offerings including equity, credit, real estate, infrastructure, direct deals, hedge funds, and other alternative strategies.
The combination creates a powerful technology solution for the wealth management industry with on-demand education, an intuitive marketplace, real-time analytics, and lifecycle management of alternative investments. The integrated platform will also include tools for compliance, alternative allocation analytics and portfolio construction to support advisors in their efforts to optimize client portfolios.
“As advisors seek access to non-traditional investment structures to help clients meet long-term financial objectives, they can be best supported by a full-service platform offering a comprehensive set of strategies and tools to meet their needs,” said Lawrence Calcano, Chairman and Chief Executive Officer of iCapital. “Incorporating SIMON’s tremendous capabilities into our already robust offering is further demonstration of our commitment to provide the wealth management industry with an unparalleled alternative investing experience.”
Jason Broder, former Chief Executive Officer of SIMON, has joined iCapital as Managing Director, Head of iCapital Solutions. In this role, Jason will lead market development and sales of iCapital’s full suite of technology offerings. Additionally, nearly 200 SIMON team members have joined iCapital to ensure the continuity of quality support for clients.
Terms of the transaction were not disclosed.
Morgan Stanley & Co. LLC and UBS Investment Bank served as financial advisors to iCapital. Goldman Sachs & Co. LLC served as the exclusive financial advisor to SIMON.